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Not the end of the Abbey Road

EMI has said it isn’t selling Abbey Road studios, contrary to reports last week that the ailing record company was hoping to flog the legendary site to venture capitalists in order to help decrease their debts. They also said that they had rejected an offer for the building last year and were working ‘with third parties’ about funding a ‘revitalisation project’. Whatever that means.

The studio has been losing EMI money for years, but when news sprung up that it might be sold, lots of sentimental guff parped out of nostalgia addicts about saving an unprofitable studio just because The Beatles recorded there. Facebook campaigns sprung up, Andrew Lloyd Webber said he wouldn’t mind owning the studio and the National Trust also expressed an interest in having a £30million property in a posh bit of north London. Funny that.

‘In response to recent press speculation, EMI confirms that it is holding preliminary discussions for the revitalisation of Abbey Road with interested and appropriate third parties,’ said the label to the BBC. ‘In mid-2009, we did receive an offer to buy Abbey Road for in excess of £30m but this was rejected since we believe that Abbey Road should remain in EMI's ownership.

‘Abbey Road studios had, for a number of years, been losing money and we have developed plans to revitalise the studios. These plans would involve a substantial injection of new capital.’

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